The Bank of England voted 7-2 to cut the Bank Rate by 25 bps to 4.5% with the two dissenting members preferring a larger 50 bps cut to 4.25%. This marks a significant shift in policy stance as the Bank acknowledges substantial progress in its fight against inflation while maintaining a cautious approach to policy easing.

• Economic Outlook:
• Policy Stance & Forward Guidance:
• Key Risks:
• Monetary Policy Report: February 2025